Anyone who is in the market to purchase a home is fully aware of the current housing shortage. In Santa Clarita we have a lot of buyers and a historically low number of homes for sale. Homes are getting multiple offers and selling after being on the market for a short amount of time. This high demand and low supply is why we are seeing such an increase in home prices.

The Santa Clarita Valley is currently facing a shortage with last year marking the lowest amount of Average Annual Monthly Active Listings since 2006.  In February 2020 the Santa Clarita Valley had 320 new listings and 223 closed sales. This February brokers added 7 fewer listings to the MLS, yet there were 17 more closed sales.  In addition, the total dollar value of sales in Santa Clarita to date increased by $111,026,000 from February 2020. 

Here are a few ways that low inventory can help you get a great deal if you’ve been on the fence about selling your current home.

Better Seller Terms

When there is a seller’s market like there is today, it is much more like being in the driver’s seat when you choose to sell your home. The ball is in your court and you have the power to sell on your own terms because low inventory means less choices for buyers. Buyers are more likely to work with you if it means they can purchase a home in a market where they are hard to find.

Greater Investment Return

ROI is a major focus in real estate. As prices rise, homes gain value. Growth in equity can give you the ability to put that money toward a down payment on your next home.

Higher Prices

With buyer numbers high and seller numbers low, homebuyers are having to enter bidding wars for the houses they want. This competition drives up the price of your home - simple supply and demand! This is absolutely a seller advantage, and could potentially net you more for your house when you finally close the deal.

If you are considering taking advantage of the current market or have any questions at all give me a call. 661.527.3752